Question
We are an on-demand (Uber of X) startup service. We have about 10-12 competitors in our space. We are two co-founders that are new to the startup world/entrepreneurship with limited resources. We are at the idea stage with a bit of a social media following.
Answer
Do not underestimate the power of limited resources. Constraints drive creativity! There's a difference between 10-12 competitors in a mature space with little room for market growth and 10-12 competitors in an emerging space that is posed to grow 100X over the next years. The beauty of building towards an exit is that in both scenarios above your competitors could potentially be your acquirers. Do you have a proper exit strategy? Remember, an exit strategy is the greatest value driver for a startup, a strategic exit is the greatest value creator for entrepreneurs. Happy to take you call and help you with your exit strategy.
